MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALSAFAA HOUSEHOLD TRADING LLC |
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Registered Office : |
Qusais Industrial
Area 3, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
26.12. 2000 |
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Com. Reg. No.: |
67575, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Household Utensils |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ALSAFAA HOUSEHOLD TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 26th December 2000
Commercial Registration Number : 67575, Dubai
Trade Licence Number : 523286
Chamber Membership Number : 61636
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Wholesale and retail of household utensils
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
ALSAFAA HOUSEHOLD
TRADING LLC
ADDRESS
Registered & Physical Address
Location : Qusais Industrial Area 3
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2353942 / 2676433
Facsimile : (971-4) 2353943 / 2670220
Mobile : (971-50) 5355327
Email : safaahh@emirates.net.ae
Premises
Subject operates
from a small suite of offices, a warehouse and a showroom that are rented and
located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Hanifa Merbal
Bin Mamunhi Merbal Indian Managing Director
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Sulaiman Abdul
Ayangol Indian Director
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Saleh Abdul
Rahman Nasralla Al Aref Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 26th
December 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 67575, Dubai
Trade Licence No. : 523286
(Expires 24/12/2008)
Chamber Member No. : 61636
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Saleh Abdul
Rahman Nasralla Al Aref 51%
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Hanifa Merbal
Bin Mamunhi Merbal 25%
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Sulaiman Abdul
Ayangol 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of
household utensils.
Import
Countries: China and India
Operating Trend: Steady
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh 9,300,000 UAE Dh 9,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Habib Bank Ltd
Beniyas Square
PO Box: 3306
Dubai
Tel: (971-4) 3232212
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s operating
history or the manner in which payments are fulfilled. As such the company is
considered to be a fair trade risk and the above credit figure is within
subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)